XML 24 R8.htm IDEA: XBRL DOCUMENT v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 71,072 $ 23,136
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation 6,345 7,195
Amortization 41,741 48,000
Amortization of operating lease right-of-use assets 4,842 4,999
Amortization of deferred debt issuance costs 1,270 1,598
Deferred income taxes (4,208) 1,516
Stock-based compensation expense 28,038 18,819
Gain on sale of equity investment (25,927) 0
Other 873 (2,067)
Changes in operating assets and liabilities:    
Receivables 48,691 99,598
Accounts payable 12,411 4,849
Accrued employee compensation (16,202) (19,884)
Deferred revenue (7,841) 8,317
Other current and noncurrent assets and liabilities (33,087) (17,818)
Net cash flows from operating activities 128,018 178,258
Cash flows from investing activities:    
Purchases of property and equipment (4,326) (4,954)
Purchases of software and distribution rights (12,142) (19,024)
Proceeds from sale of equity investment 46,021 0
Net cash flows from investing activities 29,553 (23,978)
Cash flows from financing activities:    
Proceeds from issuance of common stock 1,632 1,397
Proceeds from exercises of stock options 796 752
Repurchase of stock-based compensation awards for tax withholdings (20,226) (6,339)
Repurchases of common stock (133,770) (119,674)
Redemption of 2026 Notes (400,000) 0
Proceeds from revolving credit facility 290,000 164,000
Repayment of revolving credit facility (100,000) (152,000)
Proceeds from term portion of credit agreement 200,000 500,000
Repayment of term portion of credit agreement (18,750) (538,448)
Payments on or proceeds from other debt, net (10,664) (8,669)
Payments for debt issuance costs (134) (5,141)
Net increase (decrease) in settlement assets and liabilities 61,573 (6,151)
Net cash flows from financing activities (129,543) (170,273)
Effect of exchange rate fluctuations on cash 5,909 1,290
Net increase (decrease) in cash and cash equivalents 33,937 (14,703)
Cash and cash equivalents, including settlement deposits, beginning of period 265,018 238,821
Cash and cash equivalents, including settlement deposits, end of period 298,955 224,118
Reconciliation of cash and cash equivalents to the Consolidated Balance Sheets    
Cash and cash equivalents 189,697 156,983
Settlement deposits 109,258 67,135
Total cash and cash equivalents, including settlement deposits 298,955 224,118
Supplemental cash flow information    
Income taxes paid 33,164 14,686
Interest paid $ 35,736 $ 36,142